Client Case Study: Entrepreneur Or Business Owner

Candace signed on to coach with me and needed help with her small business. I had her complete an intake questionaire and when she did so she said she was the business owner of her consulting business.  In our first conversation I used the term entrepreneur which led to us having a great dialogue as to whether entrepreneur and business owner are actually terms that are interchangable.  I believe many people do use them interechangably and I believe they have distinctions.  I shared them with Candace and she made a few shifts that are relevant to share with you.

Entrepreneur: Defined

I believe that entrepreneurs are those who take the risk to start a business based on an idea they have. Many times entrepreneurs have many businesses and continue with idea after idea as they keep thinking of different ways to create profits.  I began as an entrepreneur.  I have started up a speech clinic, art business, rehab services business, consulting business, coach training school and a consulting institute as well as other ventures.  I enjoy doing many things and I have many ideas and am willing to take risks and run with my ideas.

Business Owner: Defined

Candace is a business owner.  She has operations and procedures in her business and is very focused on her business growing and concerned about strategy and tactics to achieve her business success.  She wanted my coaching help, in fact, to get more sales and more clients for her consulting work and wanted a step-by-step process and a 90 day plan to get to her goals with my help.

She told me that before she got serious about consulting and owning a consulting business and wearing the hat of business owner, she was an entrpreneur. She had idea after idea of what she could do, what she could sell, what she was interested in, etc. She could not keep focus on sales and kept stopping and starting many businesses including 2 different network marketing businesses, real estate, and virtual assistant services.  Then, she got clear that she wanted to actually own a business and settle into one thing with focus and clarity and purpose.

I totally got Candace.  I also had been an entrepreneur.  I loved many things and switched my focus and ran to one shiny object after the next.  Then, I settled in to owning a business focused on just coaching/consulting and said, “No” to everything else.

The Lesson?

What’s the lesson?  Candace has full focus ON her business and works IN her business and in only 30 days has achieved an additional $68,000 of consulting gigs.  I settled into doing only coaching/consulting and have one of the most successful coaching businesses on the planet.

What action will you take as a result of this article?